Australian shares inch up 0.2% as May core inflation at 3.6% keeps RBA hike bets alive

Australian shares rose slightly after May core inflation came in hotter than expected, reinforcing expectations that the RBA could tighten policy further. The S&P/ASX 200 added 0.2%, with technology stocks rebounding 5.2% even as U.S. semiconductor leaders such as Micron had fallen more than 13% in the prior session. In the U.S., S&P 500 moves were mixed as financials and healthcare gained while semiconductors lagged. Gold failed to draw support in the absence of a clear flight-to-safety bid or signs of a turning point in real yields.